Ensures timely resolution of transactions while preserving principal, obtaining fee income and expense reimbursements. Oversees action plans with specific resolution target dates and ensures prompt recommendations on adjustments for risk ratings, loss recognitions or write offs and accrual status. Uses professional knowledge, experience, and analytical criteria to make decisions and advise team members and management accordingly.
- Manages a portfolio and is responsible for developing and implementing feasible, timely workout strategies in coordination with both lending and borrowing institutions; restructuring credit and repayment terms, better securing collateral or establishing recourse to other borrower assets. Conducts analysis of legal position with regards to loan documents and collateral to determine and establish the appropriate equity position in concert with outside attorney.
- May coordinate with tax, legal, audit and credit/loan policy departments as necessary to ensure compliance of negotiated workout agreements, within established company policies and regulatory agencies ordinances.
- Ensures the enforcement of banks rights and remedies if negotiated workout plan proves not feasible and/or further default ensues. May work closely with counsel, loan recovery, turnaround professionals, and court appointed receivers and others in enforcement proceedings, seeking to maximize the recovery of nonperforming assets. Attend and/or review bank judicial proceedings as required. Coordinate and establish liquidation value of bank collateral in conjunction with liquidators, appraisers and other professionals.
- Develops loan workout plans and implement; resolves issues with the goal of maximizing return of principal and interest for all special assets.
- Ensures maintenance and updating of credit files with appropriate documentation. Timely recommends risk rating adjustments as needed, updating loan loss recognition and required accruals. Monitors covenant compliance, ensures required financial reporting and the resolution of any documented exceptions.
- Prepares management reports concerning regional loan workout activities including compliance, disposal, quality assessments, loss estimates, etc.
- Will interact regularly with peers in other functional areas, managers and customers. Interactions may involve controversial situations or trying to influence actions.
- Monitors the collection and ensures the correct application of recovered funds. Coordinates the proper implementation of workout plans with loan review, accounting and other relevant departments.
- Proficiency in Word and Excel.
- Excellent writing skills.
- Ability to handle multiple deadlines.
- Knowledge of bankruptcy administration preferred
- 5-7 years of experience in a work out role.
The above statements are intended to describe the general nature and level of the work being performed by people assigned to this work. This is not an exhaustive list of all duties and responsibilities. Cadence Management reserves the right to amend and change responsibilities to meet business and organizational needs as necessary.
Cadence Bank is an affirmative action/equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, religion, color, national origin, sex, age, status as a protected veteran, among other things, or status as a qualified individual with disability.